Aon Near Finalizing $17 Billion Acquisition of USI Insurance Broker
Aon is close to finalizing an approximately $17 billion acquisition of insurance brokerage firm USI from private equity firm KKR, according to The Wall Street Journal. A deal could be announced as soon as Monday and would expand Aon’s presence in the midsize business market while boosting its earnings per share by 2028. USI is a New York-based consulting company with $3 billion in annual revenue that specializes in risk management, employee benefits, and retirement services. KKR acquired USI from Onex in 2017 and has since increased ownership to become the largest shareholder. The acquisition would follow other recent exits for KKR, including sales of CoolIT and Circor’s aerospace business. Aon currently trades at a market cap of $75 billion after reporting Q2 adjusted earnings per share above estimates in July 2024.
Topics: Aon Insurance Brokerage KKR USI Holdings Corp.